Despite the industry-spanning effects of the COVID-19 pandemic across all regions, leading developer in Visayas and Mindanao Cebu Landmasters, Inc. (CLI) is outperforming in the Philippine real estate sector as it grows its year-on-year revenues by more than a third compared to last year.
CLI attributed the impressive growth to robust sales and construction progress due to 100 percent operating capacities at its sites. Revenues were recorded growing 34 percent from PHP5.7 billion to PHP7.7 billion. Meanwhile, nine-month net income grew strongly by 23 percent year on year to PHP1.854 billion from 2020’s PHP1.5 billion.
The firm was even recently recognised as the Best Developer for Visayas and Mindanao by PropertyGuru Philippines during the eponymous PropertyGuru Philippines Property Awards 2021.
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